Mines Auction

The Ministry of Mines has proposed amendments to allow mineral block auctions to proceed with two technically qualified bidders instead of three to improve success rates

Union Coal and Mines Minister G Kishan Reddy on Saturday said the Centre would set up a mineral trading exchange similar to the London Metal Exchange. In a media interaction here, he said the mineral exchange would be established as per the norms of SEBI. "Like the London Metal Exchange, we are going to set up a mineral exchange in India," he said. The proposed mineral exchange is expected to facilitate better price discovery for industries, traders and other stakeholders. Mineral exchange was made part of recently-passed legislation and the guidelines concerned would be issued soon, he said. Asked if the US tariffs would have any impact on the domestic coal industry, he said it would not be much. He further said the country exports aluminium to America in a small measure. Reddy said the government had reduced coal imports substantially, saving foreign exchange to the tune of Rs 60,000 crore. The steel-makers in the country have boilers built for using good quality imported coa

Rajya Sabha passes amendments to the Mines and Minerals Bill, including provisions on coal production, adding minerals to existing leases, and establishment of the National Mineral Exploration Trust

Coal production rose 16.39 per cent Y-o-Y in Q1 FY26 with 15.57 MT output in June as Utkal A mine got operational clearance and over 200 blocks were allocated so far

Financial incentives, fast-track approval, mineral pacts with foreign nations planned

Offers include sand blocks in Kollam, lime mud in Porbandar, and polymetallic reserves near Great Nicobar Island

FPI shareholding in state-owned Nalco and Coal India has risen 54 bps each, while that in Hindustan Copper has jumped 130 bps

During the strategic and technical sessions of the conclave, there will be discussions on topics like coal and energy, limestone and cement industry and mineral beneficiation, among others

The policy will be unveiled before the "Rising Rajasthan" summit in December based on stakeholder input

Govt back to drawing board to improve prospects in future rounds, industry expects more support

The mines ministry has identified 10 offshore mineral blocks for potential auction and is holding inter-ministerial consultation to secure approval

The Centre has also extended the concessional Customs duty of 5 per cent on Li-ion cells until March 2026

More than two dozen blocks will also be put on the bidding block in fourth blocks

Offshore mineral auction within three months

Final date to select the preferred bidders for remaining seven mineral blocks has been deferred to July 8

As one incumbent struggles legally, a new entrant is planning to ramp up capacity, according to schedule

During the launch of the auction process on November 29, Union Minister of Mines Pralhad Joshi said that the collective value of these 20 blocks was estimated to be $5.4 billion (Rs 45,000 crore)

Around 15 offshore blocks will also be auctioned in March

A total of 17 projects, including 11 of critical minerals, provided to the five NPEAs are in Maharashtra, Madhya Pradesh, Chhattisgarh, Odisha, Gujarat and Karnataka

Govt aims to expedite processes to hasten clearances, auction